Judge: 'Audit roulette' leads to $100M judgment

'These guys did bad and they are paying for it,' hotelier says of Grant Thornton and record damage award

10:52 AM,
Nov. 20, 2013

Attorney Kevin Murphy holds a copy of the $100 million judgment won by his client, William Yung and his family, from Grant Thornton over a tax strategy Judge Patricia Summe said the firm knew was fraudulent.

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He knows it could take years of additional legal wrangling before he could collect on a legal judgment awarding him $100 million in damages, he said in a telephone interview from Naples, Fla. "These guys did bad and they are paying for it," Yung said.

"These guys" is one of the nation's largest accounting firms, which a Kenton County judge said played a "game of audit roulette" with its tax advice to Yung, founder and president of the Crestview Hills-based Columbia Sussex Corp. ...